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tarasen57 tarasen57
wrote...
Posts: 536
5 years ago

Question 1.

The social costs of an activity are greater than the private costs of the activity when

• the internal costs of the resource-using activity are positive.

• the external costs of the resource-using activity are zero.

• a person does not pay all costs associated with a particular resource-using activity.

• the internal costs of the resource-using activity are less than the external costs of the activity.

Question 2.

When social costs of an activity exceed private costs

• this means that resources are being efficiently used.

• there is a tendency for resources to be over-utilized.

• there is a tendency for resources to be under-utilized.

• None of the above is correct.
Textbook 
Economics Today: The Micro View

Economics Today: The Micro View


Edition: 19th
Author:
Read 32 times
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Answer verified by a subject expert
blazeypoohblazeypooh
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Posts: 404
5 years ago
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tarasen57 Author
wrote...
5 years ago
Good timing, thanks!
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